central trust ppi

monicajoanne

Hi new to posting.

Just received a letter today from central trust whom we have a second mortgage with. This basically reads:- In order to try and assist you in relation with your arrears this letter is to confirm that you have insurance cover in relation to your loan (they have then submitted a form for us to fill in should we wish to claim on our insurance). Further down in the letter they say:-

"Alternatively if you wish to consider cancelling your insurance, we have enclosed the necessary declaration forms for you to complete. Any refund due may then be used to help towards clearing your arrears, and if the amount is greater than your arrears, the remainder will be paid towards your loan balance.

What we are thinking is why do they want us to cancel the insurance, could it be that they have mis-sold it (although we have had one claim on this). This insurance is a single premium one. Has anyone else received anything like this.

Appreciate any feedback. Thanks

di3004

Hi there

Hopefully "Dunstonh" will be able to help and advise you on this matter, I will come back later to bump this one up later just in case, good luck.;)

monicajoanne

Thanks for looking at my post so quickly

di3004

You welcome.;)

Just bumping this up for you, and hopefully Dunstonh or someone who knows how to deal with this matter will post up for you.

For more information on PPI mis selling, there is a link here which may also interest you with templates etc.....
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

petermb_2

monicajoanne wrote: »

Hi new to posting.

Just received a letter today from central trust whom we have a second mortgage with. This basically reads:- In order to try and assist you in relation with your arrears this letter is to confirm that you have insurance cover in relation to your loan (they have then submitted a form for us to fill in should we wish to claim on our insurance). Further down in the letter they say:-

"Alternatively if you wish to consider cancelling your insurance, we have enclosed the necessary declaration forms for you to complete. Any refund due may then be used to help towards clearing your arrears, and if the amount is greater than your arrears, the remainder will be paid towards your loan balance.

What we are thinking is why do they want us to cancel the insurance, could it be that they have mis-sold it (although we have had one claim on this). This insurance is a single premium one. Has anyone else received anything like this.

Appreciate any feedback. Thanks

I am sure they would love you to cancel it and go away quietly.
I would advise that you put a claim in first and then cancel it after.
With the deduction of the initial premium plus any interest you are due plus any compensation, perhaps you are not in arrears after all.

regards

Peter

monicajoanne

Thank you petermb we have tried to telephone but the person we need to speak to is not available! so i have just firstly sent an e-mail for someone to explain this letter to us but have also said that we are aware of the mis-selling of policies and is this the reason of the letter and if so we will be re-claiming all monies via the appropriate route. Will let you know outcome. Hopefully will get compensated without even trying. The letter was a bit of a surprise.:rotfl:

di3004

Bumpety bump, are you about Dunstonh?:D;)

monicajoanne

petermb wrote: »

I am sure they would love you to cancel it and go away quietly.
I would advise that you put a claim in first and then cancel it after.
With the deduction of the initial premium plus any interest you are due plus any compensation, perhaps you are not in arrears after all.

regards

Peter

further to original message i have just received an e-mail from central trust saying this was a standard letter sent out to all customers with arrears to try and help them out. But because we have claimed due to partner being poorly are not eligible, which they say was stated in the letter and it WAS NOT STATED, we were not thinking of cancelling insurance but are now wondering if they are realising they mis-sold this single premium insurance. What do you think

jennyo

I may be wrong, but I believe if you have made a claim and been paid out on the insurance, you cannot claim it was mis-sold.

dippynina

monicajoanne wrote: »

Hi new to posting.

Just received a letter today from central trust whom we have a second mortgage with. This basically reads:- In order to try and assist you in relation with your arrears this letter is to confirm that you have insurance cover in relation to your loan (they have then submitted a form for us to fill in should we wish to claim on our insurance). Further down in the letter they say:-

"Alternatively if you wish to consider cancelling your insurance, we have enclosed the necessary declaration forms for you to complete. Any refund due may then be used to help towards clearing your arrears, and if the amount is greater than your arrears, the remainder will be paid towards your loan balance.

What we are thinking is why do they want us to cancel the insurance, could it be that they have mis-sold it (although we have had one claim on this). This insurance is a single premium one. Has anyone else received anything like this.

Appreciate any feedback. Thanks

We also received this letter at the beginning of the year, we too were in arrears. We did cancel it and used it to pay off our arrears. We had quite a bit extra left over which Central Trust have been using to settle our monthly payments which has been a godsend!!. Unfortunately this agreement will end in August and too be honest I don't how we are going to pay them £215 per month again - We are struggling financially due to my OH downturn in work. Whether it was mis-sold or not it did help us out of a sticky situation at the time, and maybe in hindsight we should have investigated this further!

petermb_2

dippynina wrote: »

We also received this letter at the beginning of the year, we too were in arrears. We did cancel it and used it to pay off our arrears. We had quite a bit extra left over which Central Trust have been using to settle our monthly payments which has been a godsend!!. Unfortunately this agreement will end in August and too be honest I don't how we are going to pay them £215 per month again - We are struggling financially due to my OH downturn in work. Whether it was mis-sold or not it did help us out of a sticky situation at the time, and maybe in hindsight we should have investigated this further!

What did they refund you? Just the rpemiums or did they add in interest and comensation?